Zelenskyy signed amendments to the law on electricity

President Volodymyr Zelenskyy signed the Law “On Amendments to the Law of Ukraine “On the Electricity Market” No.330, which the Parliament adopted on December 4, 2019. This was reported on the president’s website.

The changes provide for proper control of electricity prices in the face of insufficient competition in this market, as well as the settlement of issues related to the operation of cogeneration plants under the new model of the electricity market.

In particular, the law provides that in the case of significant fluctuations in prices on the electricity market, the National Energy and Utilities Regulatory Commission has the right to set price caps on the day ahead market with appropriate justification. Such prices are set after consultation with the Antimonopoly Committee of Ukraine.

The Regulator also obtains the right to temporarily, until April 1, 2020, establish to producers that carry out the combined production of electric and thermal energy at combined heat and power plants a tariff for the supply of electricity (in cases provided for by the decision of the Cabinet of Ministers of Ukraine on PSO).

The law establishes a ban on the sale and/or supply of electric energy imported from the Russian Federation (under bilateral agreements and on the domestic market). At the same time, the Cabinet of Ministers of Ukraine has the right to cancel this ban for a period specified by it in order to avoid an emergency in the integrated power system of Ukraine.

The document also provides that Guaranteed Buyer directs the difference between income and expenses incurred during the performance of its special obligations, to ensure that its own expenses are covered for the fulfillment of special obligations for the purchase of electric energy at a feed-in tariff and at the auction price.

Earlier it was reported that in September, the Verkhovna Rada allowed the import of electricity from Russia and Belarus under bilateral agreements.

Tags: The Cabinet of Ministers, contracts, NPP, NNEGC "Energoatom", legislation, electricity, NEURC, energy market, ETL, RF, electricity market, foreign affairs, Зеленский, Guaranteed buyer, PSO, The Verkhovna Rada, law, parliament, auctions

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